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Wyndham
Wyndham Hotels and Resorts is an international hotel and resort chain based in the United States. It has locations in China, Canada, Mexico, Colombia, Ecuador, Turkey, Germany, the UK, the Caribbean, the UAE, Indonesia and Margarita Island in Venezuela. On June 1, 2018, Wyndham Worldwide spun-off Wyndham Hotels & Resorts as its own company, and Wyndham Worldwide was renamed Wyndham Destinations. As of December 31, 2018, it has 9,157 hotels, including 8,717 that are franchised, 438 that are managed and two that are owned, and, as of March 31, 2019, it has approximately 812,100 rooms, including approximately 745,300 that are franchised and approximately 66,800 that are managed, increased from the systemwide total of 809,933 rooms as of December 31, 2018. History Founding Wyndham Hotel Corporation was founded in 1981 in Dallas, Texas, by Trammell Crow, the president of Trammel Crow Company (TCC). The company appears to have been named after a friend of Crow's, a woman named Wyndham Robertson, who wrote a profile of him for Fortune. As the company grew, it eventually merged with a hotel REIT called Patriot American Hospitality (PAH). Patriot American organized the combined company as a paired-share REIT, in which Patriot owned the real estate assets and leased the hotels to Wyndham to run. In 1999, Patriot merged with Wyndham Hotels, forming a single company under the Wyndham name and dropping its REIT status. Expansion The firm grew rapidly in the late 1990s, acquiring multiple portfolios of hotels and renaming them Wyndhams. In 1998, in an effort to build an upscale limited-service brand, the company acquired the Summerfield Hotel Corporation and renamed it Summerfield Suites by Wyndham. Wyndham Garden Hotels are smaller properties, usually full-service, that are located in suburban or airport locations. Later that year, the combined company introduced a short-lived luxury brand, Grand Bay Hotels & Resorts, which would include 11 hotels that the company had acquired over the past few years and would turn Patriot into a multi-brand hotel operating and ownership organization. The company also included several European properties, including The Great Eastern Hotel in the City of London. However, the company's rapid growth drained cash and the firm was unable to continue to grow on its own. In March 1999, the group agreed to a $1 billion restructuring when a consortium of private equity firms, including Thomas H. Lee Partners and Apollo Real Estate Advisors, assumed control of the company. They renamed it Wyndham International. The company's paired share status was dropped, and Wyndham International re-emerged as a C corporation. From 1999 to 2004, the firm struggled to pay down debt and was forced to sell off many of the hotels it had acquired in the late 1990s, often at a deep discount in an industry still suffering from the effects of the 9/11 terrorist attacks. The effort to expand, the Grand Bay Hotels & Resorts brand was canceled, and the brand's franchised limited-service offerings, Summerfield Suites and Wyndham Garden Hotels, continued to lose units as hotels converted out of the system. Many of the Summerfield Suites hotels were sold to the Intercontinental Hotels Group and were converted to Staybridge Suites hotels. Wyndham Hotel Group Wyndham Hotel Group offers brands in lodging franchising, vacation ownership, vacation rentals, and vacation exchange. It is composed of more than 9,000 hotels under 21 brands spanning more than 75 countries in six continents, competing in brand markets ranging from economy to upscale. Wyndham Worldwide is headquartered in Orlando, Florida and has more than 40,000 employees around the world.10 Lodging management services are provided to upscale properties through Wyndham Hotel Management. In early 2008, Global Hyatt Corporation announced that Wyndham Destinations would purchase US Franchise Systems, Inc., owner of the Microtel and Hawthorn Suites brands, for $150 million. The transaction closed on July 21, 2008. US Franchise Systems had previously sold America's Best Inn (formerly Best Inns) chain to the Country Hearth Inns chain in 2005. That holding company is now known as America's Best Franchising Inc. Wyndham bought the Wisconsin-based Exel Inn chain in 2008 and converted all 22 of its properties to Wyndham brands. In 2010, Wyndham Destinations acquired the TRYP hotel brand from Sol Meliá Hotels & Resorts of Spain. The brand subsequently renamed TRYP by Wyndham, is positioned as a "select-service, midmarket" brand representing approximately 13,000 rooms and caters to business and leisure travelers in cosmopolitan cities including Madrid, Barcelona, Paris, Lisbon, New York, Frankfurt, Montevideo, Buenos Aires, São Paulo, Istanbul, etc. In late 2016, Wyndham Hotel Group announced its acquisition of Latin America's leading Fën Hotels, adding 26 management contracts across Argentina, Peru, Costa Rica, Uruguay, Paraguay, Bolivia, and the U.S. including two new Fën-built Wyndham Grand hotels opening in Montevideo, Uruguay, and Asunción, Paraguay. With the addition of Fën Hotels’ signature Esplendor Boutique Hotel and Dazzler Hotel brands, Wyndham Hotel Group’s portfolio of distinct brands grew to 18. In the summer of 2017, Wyndham Hotel Group announced plans to acquire the Minnesota-based AmericInn hotel brand and its management company, Three Rivers Hospitality, from Northcott Hospitality for $170 million. AmericInn’s portfolio consisted of 200 primarily franchised hotels with approximately 11,600 rooms in 21 states, predominately in the Midwestern U.S., Ohio Valley, and Mountain states including Minnesota, Wisconsin, Iowa, Michigan, and North Dakota. In October 2017, Wyndham launched its first soft brand product, the Trademark Hotel Collection, a collection of more than 50 upper-midscale-and-above hotels in Europe and the U.S. In late 2017, Wyndham Hotel Group announced an agreement with American Hotel Income Properties REIT Inc. (AHIP) to convert 44 existing hotels across the U.S. to Wyndham’s Baymont Inn & Suites, Travelodge, and Super 8 brands. Furthermore, AHIP has also newly acquired two additional hotels joining the Wyndham portfolio. The agreement boosted the company’s already strong presence in the U.S. midscale and economy hotel landscape with locations near Nashville, Tenn.; Kansas City, Kan.; Jefferson City, Mo.; Lincoln, Neb.; and Buffalo, N.Y. On May 31, 2018, Wyndham Worldwide Corp (NYSE: WYN) completed its purchase of La Quinta Holdings hotel franchisor (900 hotels and 89,000+- rooms)and hotel management businesses for $1.95 billion in cash. With the acquisition of La Quinta hotels, WYN then spun off its hotels and resorts into Wyndham Hotels & Resorts (NYSE: WH), a hotel group with 19 brands and over 9,000 hotels across more than 75 countries. Brands Distinctive * Wyndham Grand Upscale * Dolce Hotels and Resorts * Wyndham Lifestyle * TRYP * Esplendor Boutique Hotels * Dazzler * Trademark Collection Midscale * La Quinta Inns & Suites * Wingate * Wyndham Garden * AmericInn * Ramada * Ramada Encore * Baymont Economy * Microtel Inn & Suites * Days Inn * Super 8 * Howard Johnson * Travelodge Extended Stay * Hawthorn Suites see also Links Category:Wyndham Worldwide Category:Companies